Olive oil is a staple part of the Mediterranean cuisine for years. It can be used in its raw form as well as be used to cook in. I personally too try to use olive oil for most of my cooking.
Olive oil adds a unique flavor profile to a dish. It's quite rich in healthy fats and antioxidants. These offerings have probably contributed to its popularity now across the world.
While olive oil could be used in its raw form as per the requirements, it is cooking with olive oil especially deep frying process, most debated upon. While the studies and debates continue, it has been suggested that most of the Olive Oils used for cooking have a low smoke point. For deep frying, the usual temperature is around 190 C or 375 F. When a oil is heated beyond its smoke point, it could become toxic and not advised for consumption. And hence as of now, deep frying using olive oil should be avoided.
If you love to use olive oil in your cooking or as part of your dishes in its raw form, feel free to use it. And always remember, moderation is the key, even in case of olive oil.